ICAI's announcement for CA final students dated 28.09.17

ICAI's announcement for CA final students dated 28.09.17

ICAI has announced the amendments in study material which will be applicable for both CA Final old course as well as new course students. The following amendments in the syllabus of Direct Tax Laws (PAPER- 7) and Indirect Tax Laws (PAPER -8)will be effective from the May 2018 and November 2018 examinations for the CA final old course as well as the CA final new course. CA final students who have opted to appear under the old course may note that the new Study Materials for final Paper 7: Direct Tax Laws and International Taxation and final Paper 8: Indirect Tax Laws under the Revised Scheme of Education and Training are relevant for Papers 7 & 8 of the Final (Old) Course as well, with the exception of the following three chapters in Module 4 of the Study Material of Paper 7 Part II: International Taxation, namely, Chapter 6: Overview of Model Tax Conventions; Chapter 7: Application and Interpretation of Tax Treaties; and Chapter 8: Fundamentals of Base Erosion and Profit Shifting. Thus, Modules 1,2,3 and Chapters 1 to 5 of Module 4 of Study Material of Final (New) Paper 7: Direct Tax Laws and International Taxation are relevant for Final (Old) Paper 7: Direct Tax Laws also. The content of the Study Material is based on the direct tax laws as amended by the Finance Act, of 2017. The relevant assessment year is A.Y.2018-19. As far as Paper 8: Indirect Tax Laws are concerned, the syllabus is the same in both the old course and the new course, and hence, the Study Material for the new course is applicable to the old course. The syllabus is divided into two parts: Part I: GST (75 marks)and Part II: Customs and FTP(25 marks). Here again, the content of Part II is based on the law as amended by the Finance Act, of 2017.